Confluence Investment Management LLC Purchases 936 Shares of Alcoa Co. (NYSE:AA)

Confluence Investment Management LLC boosted its position in shares of Alcoa Co. (NYSE:AA) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,999 shares of the industrial products company’s stock after buying an additional 936 shares during the quarter. Confluence Investment Management LLC’s holdings in Alcoa were worth $529,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Mountaineer Partners Management LLC grew its position in shares of Alcoa by 4,023.0% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after buying an additional 10,534,036 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in Alcoa in the second quarter valued at approximately $93,061,000. State Street Corp boosted its stake in Alcoa by 23.3% in the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after acquiring an additional 1,805,915 shares during the last quarter. Paloma Partners Management Co grew its holdings in Alcoa by 11,317.8% during the 3rd quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock worth $55,084,000 after acquiring an additional 1,415,294 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Alcoa by 770.9% during the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock valued at $56,599,000 after acquiring an additional 1,259,430 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AA has been the subject of a number of analyst reports. B. Riley raised Alcoa from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $41.00 to $50.00 in a research note on Thursday, October 17th. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Wednesday, October 23rd. UBS Group increased their price target on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets boosted their price objective on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alcoa presently has an average rating of “Moderate Buy” and an average price target of $46.73.

Alcoa Stock Up 0.6 %

Shares of AA stock opened at $37.99 on Friday. Alcoa Co. has a 12-month low of $24.86 and a 12-month high of $47.77. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average of $41.86 and a 200-day moving average of $37.96. The company has a market capitalization of $9.81 billion, a price-to-earnings ratio of -21.59, a P/E/G ratio of 0.79 and a beta of 2.44.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.34. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted ($1.14) EPS. As a group, equities research analysts predict that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is currently -22.73%.

Insider Transactions at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the transaction, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.08% of the company’s stock.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.